Earlier this week I watched Spotify’s CEO Daniel Oak give their latest pitch to video podcasters, many of whom have a hard time seeing anything other than YouTube as their primary source of distribution and income.

Spotify has been working to increase the amount of video on its service for nearly a decade. There are now more than 300,000 video podcasts on the service. Total time spent watching video is growing faster than listening time for audio alone. With video podcasts playing an increasingly important role in culture, Spotify believes it has an opening to more directly compete with the dominance of YouTube.

Ek will have to convince video creators that Spotify’s new engagement-based payouts can replace and even surpass what they’re doing on YouTube. Many big podcasters—some of whom were in the audience with me while Ek made the pitch this week at Spotify’s Los Angeles headquarters—are skeptical and worried about cannibalizing their existing audience and business. After his keynote, I spoke with Ek to hear more about why he believes this approach to video will work.